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10-11-2010, 04:44 PM #1
Renter
- Join Date
- Oct 2010
- Posts
- 1
How do you use MLS to run Comparables?
I usually do a look up for a example as follows
3 bed, 2 bath, 1 full bath, sfr, and i check the boxes that say Active, Pending, Sold then I put it back for last 30 days. I may get about 7 or 8 ranging different prices. Is this pretty much how you get your comps? And say out of those 7 or 8, how to you narrow it down.
Just curious.
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10-13-2010, 11:10 PM #2
Condominium
- Join Date
- Dec 2008
- Location
- Minneapolis, MN
- Posts
- 169
I would suggest that you learn the way that Appraisals are compiled and the criteria they use so that you can mirror this when doing your own CMAs.
I have found that appraisers in my area don't care as much about the # of BRs and BAs being the same, as they do the SQFT and Style of home being the same. Along with closed recently and near the subject property.
So for my comps I look up type, closing date, SQFT, age built, and then I can narrow them down by BAs, BRs, GAs, etc.
If you can even find the same layout as your subject property that makes it apples to apples, which is the best comparison possible.Steve Howe - REALTOR - RE/MAX Advantage Plus
First Time Home Buyers Programs - Blog for First Time Home Buyers
First Time Home Buyer Class - Get the Facts Before You Buy
SteveH [at] MNRealEstateTeam [dot] com
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